International energy company Ignitis Group, after successfully completing the largest initial public offering (IPO) in the Baltic states, has entered the market as the most valuable listed company in the securities market of Lithuania, Latvia and Estonia. Baltic M&A and Private Equity Forum, where transactions of the year are selected, has awarded the energy group in the category of “Baltic public offering of the year”.
Every year the forum gathers representatives, advisers, consultants of private and venture capital funds and investment banks, heads and shareholders of companies. The committee consisting of market professionals and experts selects the transactions of the year according to criteria such as the value of the transactions and their strategic importance to the region, their level of complexity and innovation, their financing structure and the involvement of professionals.
“I am truly thankful for this recognition. The positive impact of Ignitis Group IPO to the financial markets of the Baltic states will be visible for years to come. After becoming the largest IPO in Lithuania, Latvia and Estonia, the transaction attracted new international investors and revitalised the market itself – turnover of Nasdaq Vilnius has increased more than 50% after the IPO”, said Darius Maikštėnas, CEO and Chair of the Management Board at Ignitis Group.
Ignitis Group was listed on Nasdaq Vilnius and London Stock (LSE) exchanges on 7 October 2020, after implementing the largest ever IPO in the Baltic States.
The process raised EUR 450m, making it significantly larger than all previous IPOs in Lithuania combined. The initial public offering was met with strong and well-diversified global demand from the institutional tranche, from both international and local asset managers as well as other institutional and retail investors.
Ignitis Group was also nominated in another category of the forum awards for the largest transaction outside of Baltic states. It was nominated in this category for the acquisition of solar parks portfolio of up to 170 MW in Poland.
The successfully completed IPO has already gained recognition. This year Ignitis Group has already won at Nasdaq Baltics Awards 2021 in the category of “Stock exchange highlight of the year”.
The objective of the Baltic M&A and Private Equity Forum organised by Verslo Žinios, together with a law firm Sorainen and partners, is to create a platform for M&A professionals, owners, heads of companies, representatives of private and venture capital funds. The Baltic M&A and Private Equity Awards is a part of the forum.